EXHIBIT 12.1

ENZON PHARMACEUTICALS, INC. AND SUBSIDIARIESRatio of Earnings to Fixed Charges(in thousands)

|                                                             |      |                         |      |                             |        |                   |      |  |        |   |        |       
|------------------------------------------------------------ | ---- | ----------------------- | ---- | --------------------------- | ------ | ----------------- | ---- |  | ------ | - | ------ | ------
|                                                             |      | Year Ended December 31, |      | Six MonthsEndedDecember 31, |        | YearEndedJune 30,
|                                                             | 2009 |                         | 2008 |                             | 2007   |                   | 2006 |  | 2005   |   | 2005  
|Determination of earnings:                                   |      |                         |      |                             |        |                   |      |  |        |   |        |       
|Income (loss) from continuing operations before income taxes |      |                         | $    |                             | (1,626 | )                 |      |  |        | $ |        | (2,411
|Add:                                                         |      |                         |      |                             |        |                   |      |  |        |   |        |       
|Fixed Charges                                                |      |                         |      | 12,300                      |        |                   |      |  | 13,450 |   |        |       
|                                                             |      |                         |      |                             |        |                   |      |  |        |   |        |       
|Earnings, as adjusted                                        |      |                         | $    |                             | 10,674 |                   |      |  | $      |   | 11,039 |       
|                                                             |      |                         |      |                             |        |                   |      |  |        |   |        |       
|Fixed charges:                                               |      |                         |      |                             |        |                   |      |  |        |   |        |       
|Interest expense (gross)(1)                                  |      |                         | $    |                             | 11,514 |                   |      |  | $      |   | 12,681 |       
|Portion of rent representative of the interest factor(2)     |      |                         |      | 786                         |        |                   |      |  | 769    |   |        |       
|                                                             |      |                         |      |                             |        |                   |      |  |        |   |        |       
|Fixed charges                                                |      |                         | $    |                             | 12,300 |                   |      |  | $      |   | 13,450 |       
|                                                             |      |                         |      |                             |        |                   |      |  |        |   |        |       
|Deficiency of earnings available to cover fixed charges      |      |                         | $    |                             | (1,626 | )                 |      |  |        | $ |        | (2,411
|                                                             |      |                         |      |                             |        |                   |      |  |        |   |        |       
|Ratio of earnings to fixed charges                           |      |                         |      | N/A                         |        |                   |      |  | N/A    |   |        |       
|                                                             |      |                         |      |                             |        |                   |      |  |        |   |        |       





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|---
|(1)
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|(2)



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